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Nov 30, 2012
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so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral. see why millions of people have already enrolled in the only medicare supplement insurance plans endorsed by aarp. don't wait. call now. >>> welcome back to "squawk box." hang out for this. a venture capitalist who is behind such success stories as klout it is a content revolution is just beginning. john frankel, founder of ff venture capital, joins us now. good
so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your...
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Nov 29, 2012
11/12
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we've got to change medicare. it goes broke in ten years. >> let's say you get -- let's say the republicans have said we're open to raising revenue, however you do. it. maybe you go over 500 or 37 or do it with closing the loophole. how do you build into that short term agreement to guarantee you to do something with spending and entitlement? >> well, you're talking about raising tax rates. i don't know of in republicans who want to do that, but we think we can find revenues that. >> that's going to be in the final deal, like 500,000 and above. 37, 38%. that's what we're hearing now. >> chuck schumer believes it ought to be a million dollars or above, and warren buffett, you know, has indicated that it should be higher himself. one thing they're not doing it is working obstructial tax entitlement reforms. >> senator hatch you have signed grover norquist's pledge not to raise taxes but what i'm maring you say is you would find ways to raise revenue if you can get your -- a solution on the other side that would othe
we've got to change medicare. it goes broke in ten years. >> let's say you get -- let's say the republicans have said we're open to raising revenue, however you do. it. maybe you go over 500 or 37 or do it with closing the loophole. how do you build into that short term agreement to guarantee you to do something with spending and entitlement? >> well, you're talking about raising tax rates. i don't know of in republicans who want to do that, but we think we can find revenues that....
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Dec 3, 2012
12/12
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the sink guegle biggest driver medicare. so if we don't make those tough decisions now, all we've done is a european style kick the can down the road and, you know, it's tough to cut entitlements and it's tough to cap deductions. austerity doesn't have to look like just taxing your way out of it. if you want to not work, you just tax your way out of it. >> i think we have to remember that this is politics and not economics going on here. that's the most important thing i think people have to remember. and we know we want more revenue and cut spending. that's why we have the problem to begin with. you have to accept that issue. le politicians aren't willing to accept that issue yet. both are at extremes. if you accept they're both at exseee extre extremes, how did we raise revenue. because the politics, not because of economics, they will not raise marginal rates. >> although we have heard some people say they would go along with that. >> i agree. the center is actually saying that. but i think -- so if the democrats know tha
the sink guegle biggest driver medicare. so if we don't make those tough decisions now, all we've done is a european style kick the can down the road and, you know, it's tough to cut entitlements and it's tough to cap deductions. austerity doesn't have to look like just taxing your way out of it. if you want to not work, you just tax your way out of it. >> i think we have to remember that this is politics and not economics going on here. that's the most important thing i think people have...
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Dec 7, 2012
12/12
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higher medicare spending, higher retirement spending, and especially something we have to get used to and we're going to have to bump up the share of the economy, that is, from the government because that's the way we're going to have to live if we want to take care of the elderly. mark, is that a reality? does that mean higher -- i'm sorry, lower long-term growth rates for the economy? >> well, yeah. i mean, two things. one is it's right that because of the aging of the population, all else being equal, government spending as a share of gdp will rise because as definition the elderly will be using medicare and social security. but that's not the biggest part of the increase in what's going on in medicare and medicaid and social security. it's really the growth in health care costs. so, if we can control that and bring that rate down, then we'll be fine. we'll be okay. but you're right about the economy. the broader economy. because in the aging of the population, and people retiring, the rate of growth in the labor force is going to slow. it already is slowing and the underlying grow
higher medicare spending, higher retirement spending, and especially something we have to get used to and we're going to have to bump up the share of the economy, that is, from the government because that's the way we're going to have to live if we want to take care of the elderly. mark, is that a reality? does that mean higher -- i'm sorry, lower long-term growth rates for the economy? >> well, yeah. i mean, two things. one is it's right that because of the aging of the population, all...
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Dec 6, 2012
12/12
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non-defense spending and come down to the least acceptable thing for everybody involved is reducing medicare spending. you want to know how to fix the fiscal cliff? you have to raise taxes on those 250 above and cap deductions and a cap in deductions on everybody loon looks to be marginally acceptable. we'll have a chance to talk about that chart later but i hear you have some interesting guests on this issue coming up. >> we're talking about that chart and will catch you up later. also the joint economic committee will hold a hearing on the fiscal cliff. can congress come up with a compromise before the looming deadline? senator robert casey and jec vice chairman tom brady joins us from texas. thank you for being here. you have a lot of things happening behind the scenes. senator casey, i know you have said what we're watching is a lot of drama and probably taking our eye off the ball in terms of what's happening. can you tell us if there's progress being made behind the scenes? >> i think there's a little bit too much attention paid to the back and forth every day. there's still a long way
non-defense spending and come down to the least acceptable thing for everybody involved is reducing medicare spending. you want to know how to fix the fiscal cliff? you have to raise taxes on those 250 above and cap deductions and a cap in deductions on everybody loon looks to be marginally acceptable. we'll have a chance to talk about that chart later but i hear you have some interesting guests on this issue coming up. >> we're talking about that chart and will catch you up later. also...
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Dec 5, 2012
12/12
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do you know that medicare and medicaid didn't exist 50 years ago and they're now a quarter of the federal budget? >> i know. it was supposed to be supplemental. david walker was on the other day talking about obama care which is supposed to save us a trillion dollars and the actual cost, what it added the our entitlement is 12 trillion. just that we did in the last two years. or whenever it was. >> but in terms of where we are now in this negotiation, i believe that both sides in the final analysis want a deal and the compromise is in the revenue side for the president and potentially rates which i think he's serious on and real entitlement reform for the republicans and the american people, markets, business, confidence, the able to move forward in 2013 is all a function of doing both of the things you talk about, joe. having an agreement to avoid the debt, the fiscal cliff, and then having a down payment on actually getting the $4 trillion identified. >> howard dean is a deficit hawk. liberal, but he is a deficit hawk. he doesn't say maybe if we can't get a deal together, maybe we'd be
do you know that medicare and medicaid didn't exist 50 years ago and they're now a quarter of the federal budget? >> i know. it was supposed to be supplemental. david walker was on the other day talking about obama care which is supposed to save us a trillion dollars and the actual cost, what it added the our entitlement is 12 trillion. just that we did in the last two years. or whenever it was. >> but in terms of where we are now in this negotiation, i believe that both sides in...